To: All Employees
From: Lydia Vasquez, Assistant Director Travel Reimbursement
Date: September 12, 2005
Subject: Standard Mileage Rate Update
The Internal Revenue Service and Treasury Department announced today an increase to the optional standard mileage rates for the final four months of 2005.
The rate will increase to 48.5 cents a mile for all business miles driven between Sept. 1 and Dec. 31, 2005. This is an increase of 8 cents from the 40.5 cent rate in effect for the first eight months of 2005, as set forth in Rev. Proc. 2004-64.
In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2005. The IRS normally updates the mileage rates once a year in the fall for the next calendar year.
The new four-month rate for computing deductible medical or moving expenses will be 22 cents a mile, up from 15 cents for the first eight months of 2005. The rate for providing services for charitable organizations is set by statute, not the IRS, and remains at 14 cents a mile.
All of the University's Travel Policies, Procedures and Per Diem Rates are available via the Internet. The Web address is http://www.temple.edu/controller
If you have any further questions or if we can be of any further assistance, please call Travel Reimbursement at 1-1263 or 1-5278 or 1-5279. Thank you.